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Tuesday, March 1, 2011

Community Health sees no reason to change Tenet bid, (NYSE: CYH), (NYSE: THC)

The head of Community Health Systems Inc (CYH.N), which wants to buy Tenet Healthcare Corp (THC.N), said on Tuesday he sees no reason to raise his $3.3 billion offer before the two sides can sit down to talk. Wayne Smith, Community Health's chief executive, said he has often been asked about the deal price since making the offer to Tenet in a November letter. "We don't think there's any reason to do anything different than what we've done," Smith said in a presentation Tuesday at the Citi 2011 Global Health Care Conference. "Until we get to the table and get an opportunity to talk about this, we don't see anything different there."